Business or profession?
This query is : Resolved
Dimple Kotak
(Querist)
26 July 2013
Dear all,
software development should be classified as business or profession?
as per income tax act business includes trade, commerce or manufacture and adventure in nature of trade commerce or manufacture.
pls advice as early as possible as its urgnt.
Thnks
software development should be classified as business or profession?
as per income tax act business includes trade, commerce or manufacture and adventure in nature of trade commerce or manufacture.
pls advice as early as possible as its urgnt.
Thnks
Rupesh Jain
(Expert)
26 July 2013
it fall under profession
26 July 2013
If assessee is an individual and a qualified engineer, then it is PROFESSION , otherwise consider as BUSINESS.
Dimple Kotak
(Querist)
26 July 2013
Thnks
but how it can depend on type of person i.e. individual or corporate
nd its educational qu
alifucation?
pls xplain
but how it can depend on type of person i.e. individual or corporate
nd its educational qu
alifucation?
pls xplain
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